The "beneficiaries" named on an insurance policy are those who
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Are protected by the policy
Increasing the deductible on your homeowner's policy is an example of
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Risk retention
John Biner's roof was totally ruined by a fire. The insurance company estimates that
the cost of building a new roof is $20,000. It also estimates that roofs like this are
expected to last 20 years. The existing roof has been in place for 15 years. Given this
information, the actual cash value of the damage is?
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$5000
Math:
= .75
100% - 75% = 25%
20,000 * .25 = 5,000
Which of the following definitions of disability provides the best protection against a
reduction in your income?
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You are disabled if you cannot perform the main duties of your regular
occupation
Indemnification
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Are protected by the policy
Increasing the deductible on your homeowner's policy is an example of
, Give this one a try later!
Risk retention
John Biner's roof was totally ruined by a fire. The insurance company estimates that
the cost of building a new roof is $20,000. It also estimates that roofs like this are
expected to last 20 years. The existing roof has been in place for 15 years. Given this
information, the actual cash value of the damage is?
Give this one a try later!
$5000
Math:
= .75
100% - 75% = 25%
20,000 * .25 = 5,000
Which of the following definitions of disability provides the best protection against a
reduction in your income?
Give this one a try later!
You are disabled if you cannot perform the main duties of your regular
occupation
Indemnification
Give this one a try later!
